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European stocks decline for first time in six months
European stocks recorded their first monthly decline in six months, influenced by rising global bond yields and a decrease in the attractiveness of high-risk assets, along with falling energy prices due to the Iran war and worsening government financial situations. The Stoxx 600 index closed down by 0.5%, amidst expectations of pessimistic trends and deterioration in the banking, industrial, and insurance sectors, although the energy sector achieved a monthly gain of 2.7%. Data also showed German inflation rising to its highest level since December 2023, and the yield on ten-year German bonds fell despite remaining near its highest levels since 2009. Meanwhile, U.S. data indicated a slowdown in inflation in August, leading to reduced expectations of interest rate hikes by the Federal Reserve.
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